Sometimes it’s hard to think of those two words together: business and yoga. But yoga is a business. It’s a very big business. In fact, it’s a $27 billion dollar industry. And as yoga teachers we have a choice. It begins with asking the questions, “What does success as a yoga teacher mean to me? Is it about money? Fame?” Maybe it is. Maybe that’s your dharma. There’s no shame in being a yoga rock star who travels the world leading workshops or lands the cover of Yoga Journal. But what if your dharma is leading one class a week for seniors at the local recreation center? Or teaching underserved populations? Or not teaching at all?
I think for most of us there’s a middle path. I think most of us envision teaching three, maybe four classes a week, taking on some private clients, teaching a few specialized workshops and finding a local studio that holds space for our work and encourages us to grow. A studio we can call our yoga home.
It won’t happen over night, but if that’s what you want there is some groundwork you can put in place that will support the journey:
Join Yoga Alliance. Your 200-hour certificate will allow you to register with YA with the designation “RYT.” As you begin to teach you’ll keep track of your hours and you’ll be able to upgrade your designation. In time you’ll also qualify as a Yoga Alliance Continuing Education Provider (YACEP). This is a good thing. It means that, eventually and with enough experience, you will be able to offer workshops through which students can accrue continuing education units. As members of YA we are required to continue our education. This can include contact hours like workshops or additional trainings or it can include non-contact hours like research and publishing. Joining Yoga Alliance won’t make you a better teacher. But it’s a great resource. There is a yearly membership fee involved but there are also member benefits. Explore the Yoga Alliance website to see if it’s a good fit for you.
Have adequate insurance. Some studios will have policies that will cover you but if you intend to rent space to teach or to see private clients in their homes you must have liability insurance. The Yoga Journal and Yoga Alliance websites will have information about how to find low cost insurance.
Continue learning. Attend classes, take workshops, read the latest research. Practice what you teach.
Cultivate a professional reputation: Show up for classes on time, start class on time and finish on time, be present for your students – be an active listener, do not speak disparagingly of fellow teachers or studios, take the Yamas and the Niyamas to heart.
And that’s pretty much it. Almost…you may want to consider having a professional headshot to use for marketing purposes, creating a basic website to list your classes or, if you’re up to it, creating a blog. Social media accounts dedicated to your practice and teaching are a nice idea, too.
What about taxes? It’s not as tricky as you think.
If you are an employee at a studio it is like any other job. You’ll receive tax forms at the end of the year and you will file as usual.
If you are an independent contractor you will need to fill out a Schedule C when you file your taxes. So keep good records of everything you earn and everything you spend for your yoga business. You might receive 1099 Forms from places you work. You most likely won’t receive these from private clients.
If you are an independent contractor and therefore self-employed, remember that you will owe not only income tax but self-employment tax (Social Security & Medicare) therefore you should pay quarterly estimated taxes.